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Legal Developments in South Korea

• Korean tax authorities impose KRW 300 billion of withholding taxes on software license fees, looking

  The Korean Tax Tribunal has affirmed National Tax Service (NTS) assessments totaling some KRW 300 billion (approx. USD 260 million) against Oracle Korea, as withholding taxes on software license fees paid to an Ireland affiliate (Oracle Ireland), on the basis that beneficial ownership was with Oracle Corporation (Oracle US). The NTS, in 2011 and 2015, imposed the withholding taxes based on the Korea-US tax treaty, which calls for a 15% withholding rate as opposed to no withholding under the Korea-Ireland tax treaty. The Tax Tribunal has upheld the NTS assessments, citing among other things Oracle US’s ownership of the software and control over the income, as contrasted with the minor role of Oracle Ireland.
  - Bae, Kim & Lee LLC

• [SOUTH KOREA] Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing ...

  Korean Supreme Court Issues Several Rulings on Whether a Foreign Company Doing Business in Korea May Be Found to Have a Permanent Establishment 
  - Kim & Chang

• [SOUTH KOREA] KFTC Announces Its Enforcement Plan Detailing Its Focus Areas for 2017

  On January 5, 2017, the Korea Fair Trade Commission ("KFTC") announced its enforcement plan for 2017 (the "Plan"), and set out detailed policies to: (i) monitor and remedy anti-competitive structure and behavior; (ii) establish a healthy business system among large conglomerates and small and medium-sized enterprises (“SMEs”); and (iii) build a consumer-friendly environment promoting consumers’ rights.  
  - Kim & Chang

• [SOUTH KOREA] Ministry of Environment (i) Strengthens Safety/Labeling Standards for ...

  Ministry of Environment (i) Strengthens Safety/Labeling Standards for Potentially Risky Products and (ii) Introduces Biocides Act Modeled After EU’s Similar Regulation 
  - Kim & Chang

• RECENT COURT ORDER ON GOOGLE RELATED TO PROTECTING INFORMATION RIGHTS

  Korean appeals court orders Google to disclose to Korean users what personal information Google passed to U.S. government.
  - Bae, Kim & Lee LLC

• [SOUTH KOREA] Questions on Product Safety Continue, Bringing About Strengthened Regulatory Oversight

  In the midst of growing public concern over the health hazards of certain household chemical products,¹ concerns are now being raised about the safety of chemicals in other types of products, such as "quasi-drugs" (e.g., toothpastes) and cosmetics.   
  - Kim & Chang

• [SOUTH KOREA] (1) Hong Kong Tax Treaty, and (2) Amendment to the Korea–India Tax Treaty

  Much earlier than expected, on September 12, 2016, the Korean government notified the Hong Kong government of the Korean National Assembly’s ratification of the Korea–Hong Kong Tax Treaty (“Treaty”). On September 27, 2016, the Treaty entered into force.   
  - Kim & Chang

• [SOUTH KOREA] KFTC Begins to Enforce the Amended Consumer Dispute Resolution Standard

  KFTC Begins to Enforce the Amended Consumer Dispute Resolution Standard to Reinforce Consumer Protection   
  - Kim & Chang

• [South Korea] Korea’s Strategy and Finance Ministry Proposes Tax Law Changes for 2017

  On July 28, 2016, the Ministry of Strategy and Finance (“MOSF”) announced the proposed tax law amendments for 2017. MOSF has submitted the draft tax law amendment to the National Assembly.
  - Kim & Chang

• [South Korea] Korea’s Environment Ministry Preparing Tougher and More Expansive Regulations for ..

  Korea’s Environment Ministry Preparing Tougher and More Expansive Regulations for Chemical Substances & Products
  - Kim & Chang